uBid.com Holdings Inc. has acquired the P2P online-auction site Bidville for an undisclosed amount. uBid.com Holdings formed a new subsidiary, DIBU Trading Corp., which purchased assets of the online auction company Bidville Inc., including the company's customer file (estimated at approximately 900,000 customers and prospects), brand name, URL and related online auction technologies, which includes storefronts, fraud protection, private auctions and unique seller tools.
"This acquisition represents another great milestone in the history of our company," said Robert Tomlinson, Jr., CEO of uBid.com. "Bidville's consumer-to-consumer platform is complementary to uBid.com's current business-to-consumer and business-to-business marketplace. It not only provides us with a new marketplace to expand our business but it also represents a great opportunity to cross-sell our current business to new customer prospects," he said.
Bidville.com will remain a separate entity within the uBid.com Holdings Inc. group of companies. The transition of ownership of the new business will begin immediately.
uBid operates its own online auction marketplace located at www.uBid.com offering new, close-out, overstock and refurbished merchandise to consumers and businesses. It has promoted its Certified Merchant Program (UCM) to third-party online sellers and grew participating merchants to 949 by the end of first quarter of 2006, up from 630 merchants reported at the end of Q4 2005. More on uBid's recent history can be found online: http://www.auctionbytes.com/cab/abn/y05/m12/i30/s04. uBid.com Holdings, Inc. is publicly traded on the NASD OTC bulletin board (OTC BB: UBHI)
Here's Bidville's history according to Thursday's press release issued by uBid:
"Bidville, Inc. (OTC BB:BVLE), Bidville, Inc., a Nevada corporation, was founded in 1999 primarily as a sport card auction site but began expanding its merchandise offerings in late 2003 to compete as an on-line auction alternative to eBay. The company provides unique user features, such as Storefronts, Watch List, Image Gallery, and fixed price listing options. In 2001, Bidville merged with NoBidding.com, one of the first online fixed price marketplaces. In August 2003, Bidville was acquired by Royal Palm Capital Group. Bidville, Inc. has been a fully reporting public company since December, 2003. For further Company and product information, please visit the Bidville's website at http://www.bidville.com. Additional information, including current financial data, is available in current Securities and Exchange Commission filings under the symbol BVLE. The company is headquartered in Boca Raton, Florida U.S.A."
http://www.ubid.com/about/Press_room/press50.asp
http://www.bidville.com
